WeWork woes continue as people management called into question

After delaying its stockmarket flotation, the coworking office giant is now dealing with the fallout after its controversial CEO steps down.
By: | October 4, 2019
Topics: News | US

The growing number of C-suite executives leaving and claims of sexual harassment are two major issues WeWork faces as part of its battle to repair its once shining brand.

There have been reports of more than a dozen of WeWork’s top officials leaving the embattled company in recent months, including senior members of its HR team. Many are caught in the crossfire of internal complaints and uncertainty over its planned IPO.

After WeWork’s eccentric CEO Adam Neumann stepped down last week, former employees have started opening up about his unconventional management style. A new lawsuit accuses Neumann of instituting a “cultish” office culture, that includes forcing employees to drink alcohol and firing employees with little to no notice.

With increased investor scrutiny over WeWork’s profitability and new management structure, the prospect of widespread layoffs hangs over the shared office space provider, once the darling of Wall Street.

Coworking spaces like WeWork, JustCo and Spaces are proving a hit in Singapore as more workers join the gig economy of short-term and freelance work. In Singapore, WeWork now has 11 properties. A private office space starts from S$1,160 to S$2,690 a month.